A rapid change automatic tool change (ATC) magazine comprises a base having an exterior side and an interior side opposite the exterior side, and one or more passageways extending between the exterior side and the interior side, each of the one or more passageways defined by an interior opening and an exterior opening, a spring disposed within each of the one or more passageways of the base, a socket disposed within each of the one or more passageways, the socket having a body, an exterior surface, and an interior surface opposite the exterior surface, and a retaining cap having an upper side and a lower side opposite the upper side wherein the retaining cap includes one or more channels extending through the upper side and the lower side, each of the one or more channels being defined by an upper opening and a lower opening, wherein each of the one or more channels aligns with one of the one or more passageways.